OFAC Sanctions Compliance – Should an institution tell its customer that it blocked their funds, and, if so, how does the institution explain it to them?

Compliance > OFAC
Q:  Should an institution tell its customer that it blocked their funds, and, if so, how does the institution explain it to them?
 
A:   An institution may notify its customer that it has blocked funds in accordance with OFAC's instructions. The customer has the right to apply for the unblocking and release of the funds.
 
To apply online to have the funds released, please go to our online application page. [3-16-2015]
 
 
 
 
ADDITIONAL INFORMATION – This Q&A was included in the U.S. Department of the Treasury’s online Resource Center for OFAC - Sanctions Compliance, which may be found here:  https://www.treasury.gov/resource-center/faqs/Sanctions/Pages/faq_compliance.aspx
 

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